Prime rate cut a full point at Morgan Guaranty Trust

By With Analysis from Monitor Correspondents around the world; Edited by Debra K. Piot

May 6, 1980

New York

Morgan Guaranty Trust Company, the fifth-largest US bank, cut its prime lending rate a full percentage point Monday, to 17 1/2, and the No. 3 Chase Manhattan Bank made a cut of half a percentage point, to 18 percent.

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